VW Confident That it Will Reach 10M-Vehicles Sales Target Earlier Than 2018

Relying on the rapid growth, VW is sure that it will become the first automaker to sell 10 million units in a year, a goal that will be reached earlier than the target of 2018.

Since 2007, when Martin Winterkorn became the CEO of VW, the automaker has continuously increased in operating profit and sales despite the European crisis. The company made heavy investments outside the Old continent, making China the largest global market both for Audi and VW. From January to May, VW’s sales increased 6% to 3.87 million, after an increase of 12% for the entire 2012. This increase has helped the automaker reach sales of record 9.34 million.

When he took control of the company, Winterkorn said that the automaker will sell 10 million vehicles by 2018, a target considered by many too ambitious, especially for an automaker that was selling only 6 million units annually. In the following 5 years VW increased sales by almost 50%, which means the automaker has 6 more years to increase global volume between 7% and 10% to achieve its goal.

In 2012 the Asia Pacific region accounted for 34% of VW’s sales, an increase from 32% in 2011, and Europe fell to 33% from 38% in 2011.